The latter part of the 20th century witnessed a revolution in medical devices with smaller, superior features and capabilities. The advent of implantable pacemakers, implantable cardioverter defibrillators (ICD), and cardiac resynchronization therapy (CRT) improved physicians' diagnostic capabilities.

These new devices are likely to find high uptake as an aging baby boomer population as well as sedentary American and European lifestyles result in disorders such as obesity and diabetes, which expand the cardiovascular patient pool. As people become increasingly aware of ailments and their therapies, there will be a wider market for advanced CRM devices.

Although the high prices of these devices tend to dampen their market prospects, their utility will ensure steady adoption and eventually, price drops. Nevertheless, recent device recalls by manufacturers as well as device-related deaths may make end-users apprehensive about purchasing these devices. To avoid such incidents in the future, the regulatory bodies have made their approval process stricter for optimum product reliability.

Currently, CRM device technology is driven by brand recognition. While key participants have retained their market shares consistently, smaller start-up companies are finding it difficult to penetrate the competitive market. The bigger players should look to establish alliances with the start-ups for the sale and distribution of their products.

"Overall, CRM is a growing market with ablation catheters, ICDs, and CRT- defibrillator devices showing high potential," notes De. "Collaborative partnerships, technological innovations, and scalability will determine the future of this market."

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